This study was conducted to look at the impact of Multinational Enterprises (MNE’s) and their Role in Economic Development as in the case of the Gambia and specifically the telecommunication sector. Results of the study show that contribution by the Multinational Enterprises (MNE’s) in economic development of the country goes beyond enhancing the level of competition. The Gambia Telecommunication sector had got a robust way of partnership between competing companies which has gone a long way in increasing the productivity of the telecom companies’ service delivery, fast innovation, adapting newer technologies in order to stay relevant in the competition. Multinational Enterprises (MNE’s)as are a huge development partner to the Gambia government as a matter of fact it makes them a reality that will stay within the country for a foreseeable future as means to complement government efforts whiles the environment remain conducive.
We are in the generation where countries that have been taken advantage of to start working on improving the way they do business for the rapid economic development and the faster they do it the better it is. The world have globalized and investors have no barriers to where they will invest as far as there are business opportunities and for that reason multination companies have penetrated across the globe and developing markets has been a concentration for those companies in recent times and the Gambia is not an exception. This would lead them into further grazing their way into the inner workings of weak governments and increase their socio-politico-cultural influences.
However, the growing trend of the of multinational companies shouldn’t be given a blind eye as they have both positive and negative impacts in those developing economies. Instead policies have to be put into place to better utilize them as those developing countries sees them. Foreign capital is one amongst the first catalyst of encouraging development. The influence of Multinational Enterprises (MNE’s has always been a topic of discussion in Africa especially to the Gambia because of the role they play in economic development of those countries. Developing nations need to grow more indigenous ventures that can compete on a worldwide scale, in a market loaded with many foreign players.
This is impossible if local businesses are considered infant ventures and given subsidies so they could play safe, rather they ought to be compelled to reveal the best of them, which would empower them to build their ability. Less developed nations should concentrate inside and enhance fundamental zones, to better go up against multinationals and keep them from commanding the market. This can only be done if they are made to come to economies of scale and plan on operating on a global scale, rather within the confines of a few local markets.